global marketing
In your own words, based on your
education and experience, provide me with input and insight to each of the
inquiries to help enable a better understanding of the content.
A. What are the basic factors
involved in deciding whether to use standardization or customization in global
marketing? As a reminder, the ethnocentric, polycentric, and the geocentric
approach are 3 basic factors that a firm should analyze before deciding whether
to standardize or customize their international marketing strategy.
B. What are some of the
fundamental issues that must be addressed in international advertising? As I
personally understand it, the 3 fundamental issues that must be addressed in
global advertising are defining the message one wants to get across to the
consumer, determining how the message will be communicated to the consumer, and
whether or not the message should be revised because of the market it is being
broadcast to.
C. Are the four Ps of
international marketing of equal importance to all firms? What might cause some
to be more or less important than others? As I personally understand it,
product, pricing, promotion, and place — are not of equal importance to all
organizations.
D. What are the pros and cons of
trying to use a single brand name in different markets, as opposed to creating
unique brand names for various markets? As I personally understand it,
globalization has caused some multinational organizations to create branding
strategies that are similar in both domestic and international markets.
E. How do legal, cultural, and
economic factors in the Multi-National Corporation’s home country affect their
international product policy?
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